CHARTER AGREEMENTS

Solstad Offshore ASA (SOFF) has been awarded
following charter contracts:
Total E&P UK Limited and Elf Exploration UK Limited
for hire of the platform supply vessel (PSV) "Normand
Aurora". The duration of the contract is firm for 5
years with further 2 x 1 year options with
commencement April 2012.

EDT Offshore Egypt S.A.E for hire of Stand-By
vessel "Normand Draupne ". The duration of the
contract is firm for 1 year with further 1 year
option with commencement April 2012.

Statoil Petroleum AS for hire of the platform supply
vessel (PSV) "Normand Corona". The duration of the
contract is firm for 6 months with further 2 x 6
months option with commencement April 2012

Total value for the firm part of the contracts is
approx NOK 380 mill.

Skudeneshavn, 11th April 2012

Contact person: Lars Peder Solstad (Tlf. +47 52 85 65
00)

This information is subject of the disclosure
requirements acc. to §5-12 vphl (Norwegian Securities
Trading Act)